Objective Test

The “objective” nature of shortfall penalties in “subjective” circumstances

This article was originally published in CCH Australian Tax Week Issue 34 (26 August 2022). With audits and reviews now in full-swing after COVID-19, we are seeing more and more clients who have had shortfall penalties imposed. As tax practitioners, we have the job of objecting to shortfall penalties that have been imposed – by explaining the taxpa...